A reason why absorption costing income statements are sometimes difficult to interpret is that: Multiple Choice they omit variable expenses entirely in computing net operating income. they shift portions of fixed manufacturing overhead from period to period according to changing levels of inventories. they include all fixed manufacturing overhead on the income statement each year as a period cost. they ignore inventory levels in determining cost of goods sold.

What is the difference between a public and a private corporation?

Aquatic marine stores company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. aquatic uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 3 pounds per unit; $ 6 per pound direct labor: 4 hours per unit; $ 19 per hour during the first quarter, aquatic produced 5 comma 000 units of this product. actual direct materials and direct labor costs were $ 65 comma 000 and $ 330 comma 000, respectively. for the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 5 comma 000 units.

Based on what you learned about time management which of these statements are true